Why Bush was so bad at the end of his term.

Unknown

[Sen Jack S. Fogbound]

This may have been around before but it is worth reading it again!

This tells the story, why Bush was so bad at the end of his term.

Some people aren't aware of all of this. Don't just skim over this, please read it slowly and let it sink in. If in doubt, check it out.

The day the democrats took over was not January 22nd 2009, it was actually January 3, 2007... the day the Democrats took over the House of Representatives and the Senate, at the very start of the 110th Congress.

The Democrat Party controlled a majority in both chambers for the first time since the end of the 103rd Congress in 1995.

For those who are listening to the liberals propagating the fallacy that everything is "Bush's Fault", think about this: January 3rd, 2007 was the day the Democrats took over the Senate and the Congress. At the time:

The DOW Jones closed at 12,621.77 The GDP for the previous quarter was 3.5% The Unemployment rate was 4.6%

George Bush's Economic policies SET A RECORD of 52 STRAIGHT MONTHS of JOB GROWTH Remember the day...

January 3rd, 2007 was the day that Barney Frank took over the House Financial Services Committee and Chris Dodd took over the Senate Banking Committee.

The economic meltdown that happened 15 months later was in what part of the economy? BANKING AND FINANCIAL SERVICES!

Unemployment... to this CRISIS by (among MANY other things) dumping 5-6 TRILLION Dollars of toxic loans on the economy from YOUR Fannie Mae and Freddie Mac FIASCOES!

Bush asked Congress 17 TIMES to stop Fannie & Freddie - starting in 2001 because it was financially risky for the US economy.

And who took the THIRD highest pay-off from Fannie Mae AND Freddie Mac? OBAMA And who fought against reform of Fannie and Freddie? OBAMA and the Democrat Congress So when someone tries to blame Bush.. REMEMBER JANUARY 3rd, 2007.... THE DAY THE DEMOCRATS TOOK OVER!" Budgets do not come from the White House. They come from Congress, and the party that controlled Congress since January 2007 is the Democrat Party.

Furthermore, the Democrats controlled the budget process for 2008 & 2009 as well as 2010 & 2011. In that first year, they had to contend with George Bush, which caused them to compromise on spending, when Bush somewhat belatedly got tough on spending increases.

For 2009 though, Nancy Pelosi & Harry Reid bypassed George Bush entirely, passing continuing resolutions to keep government running until Barack Obama could take office. At that time, they passed a massive omnibus spending bill to complete the 2009 budgets.

And where was Barack Obama during this time? He was a member of that very Congress that passed all of these massive spending bills, and he signed the omnibus bill as President to complete 2009.

If the Democrats inherited any deficit, it was the 2007 deficit, the last of the Republican budgets. That deficit was the lowest in five years, and the fourth straight decline in deficit spending. After that, Democrats in Congress took control of spending, and that includes Barack Obama, who voted for the budgets.

If Obama inherited anything, he inherited it from himself. In a nutshell, what Obama is saying is "I inherited a deficit that I voted for and then I voted to expand that deficit four-fold since January 20th." There is no way this will be widely publicized unless each of us sends it on!

[TomGuy]

Back to Planet Earth:
The Bear stock market started September 2007

I recall in the spring of 2007, the Bush economics team hitting the newstalk programs and saying how sound the economy was.

I thought it strange at the time that they were harping on the soundness, as there were no rippples about a bad economy at the time.

They were trying to head off disaster and get themselves to the election so they could pass the buck -- they failed by a few months.

Two months later, the cracks started to show. Four months later, we were bombarded with several economic crises that needed 'immediate' bailouts or armageddon would happen.

My Congressman voted for the first bailout. I sent him a scathing letter that centered on the question: Where will it stop, once the bailouts start?

He responded with some hand-penned comments in agreement on his 'official' reply. As I recall, he never voted for another bailout.

Team Bush knew in the early spring of 2007 that big economy problems were about to hit.

[taildragger]

To futher change the shades of gray...

The Bear stock market started September 2007 NOT September 2008 a year later.

Yes, it peaked in Sept 08'. Rahbini Dr Doom made his call on CMO's etc the same weekend, I remember the posting here, trying to figure out what the heck he was talking about... Those of us that got out around then or shorty their after ( Thank you Glenn Beck ) faired ok....

Bush bragged about CRA type housing risky loan policies to minorities that he promoted. He gave speeches bragging about it easy to find on the internet.

Yes, and at the same time GWB. McCain, Chris Shay's etc were on a screed to reform Fannie and Freddie numerous times only to get blocked by the likes for Bwanney Fwank and Maxine Waters and the Rest of the Black Caucus.

The crash was a result of bubble that was started back in 2002 and 2003. By 2007 it was little late to reform home loans as prices were at their peak of the bubble.

The Clinton / Gingrich / Lott passing of the last fiancial reform act in 99' changed the home exemptions up to 250k single and 500k married if you lived in for 2 years. I want to know how many in the House and Senate became flippers with that one.. Na this had no effect on the housing market... Ya think? IMHO it was the reason all the over 50 crowd empty nesters starting flipping and probably one of the major reasons for the housing bubble It was tax free money!

IMHO all homes are a capital asset and if ya like the 15% rate, treat them as such and make long term 1 year as well. Then all capital endeavors are on an equal footing, it is your abilities that would determine your gains in a given market / endeavor...

[Servant of the Cross]

Trying to revise GWB history just makes Republicans look silly.

Speaking of looking silly ......

The 110th Congress (and Senate) was elected on November 6, 2006 and effectively took control of the House of Representatives the following day. Every legislative act and the economic meltdown that you reference occurred after this date. W, certainly too gracious in bending to the ignorant American electorate who willingly put liberal democratic socialists in power, only attempted to limit their legislative actions since he had no other course of action. The GOP Senate (see references above at #19 and #39) was feckless and complicit with the liberals. No chance for any veto by W holding up.

And with regard to the critical Banking and Financial Services reform ....

President George W. Bush and GOP Rep. Baker were all over that ... in 2004! The libs called them racist and successfully resisted the needed reform because the feckless and cowardly GOP Senate rolled over.

[Personal Responsibility]

He probably got war weary. Not from the fighting in Iraq but from the politics surrounding Iraq. Cindy Sheehan. The “die-ins” in Times Square. The constant drumbeat of negativity.

A person only has so much fight in them and I think Bush reached his limit during the heights of the Iraq war protests. After that, he had no stomach for the fight.

[TribalPrincess2U]

Ineffective isn’t the word for 0bamaao.

[Mr. K]

W was overwhelmed by Nazi Pelosi and her never-ending references to “The failed Bush Administration” and the relentless media harping on that theme

And the Media is trying to do it again to help Obama

[1066AD]

Sept 11 2003.

http://www.nytimes.com/2003/09/11/business/new-agency-proposed-to-oversee-freddie-mac-and-fannie-mae.html?scp=2&sq=bush%20oversight%202003&st=cse

New Agency Proposed to Oversee Freddie Mac and Fannie Mae

[TADSLOS]

Bush's problem was that his false claim of conservatism hit its shelf life in his first term and reached a state of putridity when he signed TARP into law.

A nice, civilized guy who likes compassion more than he likes conservatism and the Constitution.

[BufordP]

John Derbyshire: Eight Wasted Years ...Margaret Thatcher used to talk about the “ratchet effect.” When the Left gets power, she said, they drive everything Left; when the Right gets power, they slow the Leftward drive, perhaps even halt it for a spell; but nothing ever gets moved to the Right. U.S. politics in the 21st century so far bears out this dismal analysis. What does the Right have to show for eight years of a Republican presidency? I supported George W. Bush in 2000 because I thought he had a conservative bone in his body somewhere. I supported him in 2004 because I thought him the lesser of two evils. At this point, I wouldn’t let the fool park his car in my driveway. Bruce Bartlett was right, every damn word... Bill Gertz interview on Hannity and Colmes Gertz: Well he casts himself as a compassionate conservative and I argue that he's neither. That his administration is neither. He's done tremendous damage to the conservative movement...

[Deb]

So true. A great man was hate-bombed for seven years to insure no positive legacy would survive.

The only thing Obama "inherited" was the bin Laden intel.

[Deb]

Thanks for proving lies and misinformation work on the willingly ignorant.

[Deb]

Ah, the List. Proving the dishonest never sleep. The Left produces a turd and you eat it. Well done.

[Deb]

What a load of crap. Neither war was covered honestly by the media. The Democrats lied about it. None of the amazing victories were EVER covered. The entire cultural Left amassed against everyone in his administration from John Woo to Dick Cheney.

General Petraeus would have maintained a lasting, working peace if he had been allowed to remain. Ask ANYONE with any knowledge of these fights and they'll say the same thing.

Obama has worked hard lose these fights and the Left has worked equally hard to paint them as failures.

Looks like it worked with you.

[Deb]

All the malcontents will fly in from their sewers at the first ring of “Bush” bell. We’ll get the Lists and the BS. It never ends.

[Deb]

She is NOT “pro-abortion”.

[Deb]

She is NOT “pro-abortion”. You’re a liar.

[Deb]

I assume you mean “veto” pen. Another lie. His first veto was to stop embryonic stem cell experiments.

[what's up]

Bush was assailed mercilessly because he was a strong and very effective President.

Dems were terrified when they saw that Bush was actually going to be seen as a hero for winning the WOT.

They and MSM co-horts pulled out all the stops and attacked him mercilessly with Alinsky tactics which worked (lie, lie and keep lying). Your cited fact that the deficit was extremely healthy (i.e. economy was being restored) until Dems took over is a solid one.

Watch and see. We will adopt Bush policies again and the US will thrive. Then Bush will have his well-deserved legacy.

[Servant of the Cross]

Hey there. Whenever I see these threads, I think two things: 1) I never want to agree with Michael Moore on anything; and 2) I am so thankful to have had George W. Bush in the White House on 9/11/2011 ..... [I shudder to imagine metrosexual algore with a megaphone]

[sickoflibs]

RE :”Yes, and at the same time GWB. McCain, Chris Shay's etc were on a screed to reform Fannie and Freddie numerous times only to get blocked by the likes for Bwanney Fwank and Maxine Waters and the Rest of the Black Caucus.”

They had zero power to block anything in the house from 2001 to 2006 under Republican control. You think the House has a filibuster?

As I already pointed out by 2007 it was too late, Housing prices had reached levels they could never be sustained at. They were going to crash and the big fall started Sept 2007 with a brief suckers rally in mid 2008 when Bush and Bernake assured the country that the economy was sound.

Earlier Bush was too busy taking credit for home loans to minorities with bad credit to propose reforms that would end his own programs.

GWB 2002 Speech :”More and more people own their homes in America today. Yet we have a problem here in America because fewer than half the Hispanics and African Americans own their own homes. That’s a home ownership gap; a gap that we got to work together to close. And by the end of this decade we’ll increase the number of minority homeowners (future Obama voters ) by 5.5 million families. “
“One of the major obstacles to minority home-ownership is financing. Fannie Mae and Freddy Mac (who I will bail out in 2008) have committed to provide more money for lenders, they committed to meet the shortage of capital available for minority home-buyers. Freddie Mac just began 25 initiatives around the country to dismantle barriers (like income requirements) and create better opportunities for home-ownership. One of the programs is designed to help families with bad credit histories to qualify for home ownership loans (by faking their income) . You don’t have to have a lousy home for first time home-buyers. You put your mind to it the first time low income home buyer can have just as nice a house as anyone else (till those adjustable rates go up).
President Bush Mortgage Speech 2002(Helping those w bad credit buy houses)